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It’s the great Australian city debate, one which pits the commerce, business and money of Sydney against cultural, arts-loving, coffee-drinking Melbourne. Chris Putnam/imageBROKER/ShutterstockThere’s no better way to start a trip to Melbourne than with a proper cup of coffee. The history of coffee in Melbourne goes back to the years after World War II, when Italian immigrants arrived and brought their machines with them. And it's not just coffee 06:24 - Source: CNNKate Reid is the best person to speak with about Melbourne’s coffee obsession. “Neighbours” is set in the fictional Melbourne suburb of Erinsborough, although the street is real, as is the connection to the city.
Persons: Chris Putnam, Lane, CNN Kate Reid, Lune Croissanterie, , Reid, , It’s, that’s, Phillip, Phillip Island, Vivien Zajicek, Cyril Callister, Vegemite superfan Gina Gardenal, upsettingly, Gardenal, Sam Tabone, Kylie Minogue, Guy Pearce, Margot Robbie, Robbie, Amazon’s, CNN Lucinda Cowden, “ Melanie, Cowden, “ Melbourne’s, ” She’s Organizations: CNN, croissants, Little Penguins, Kangaroos, Sydney Opera House, Melbourne Cricket, Cyril, Neighbours Locations: Melbourne, Sydney, Australia, caffeinated Melbourne, Fitzroy, Paris, Phillip, Little, Australian, Uluru, Beaufort, Victoria, England, Champagne, Erinsborough, , Harold’s
A new fund hitting the market on Tuesday has a phrase in the title that ETF investors are about to become very familiar with: private credit. There is now a few trillion dollars in private credit assets under management, but the total addressable market for the asset class in the U.S. could top $30 trillion , according to consulting firm McKinsey & Company. The use of collateralized debt obligations, which pool a bunch of private credit loans together, is one approach. "The big hurdle to clear in investing in private credit in an ETF is liquidity. One high profile example is the proposed SPDR SSGA Apollo IG Public & Private Credit ETF, a collaboration between ETF giant State Street and Apollo's private credit expertise.
Persons: CLOs, Tony Kelly, Kelly, We're, Alliance Bernstein, Janus, PCMM Organizations: Nasdaq, Blackstone, Owl, McKinsey & Company, BlackRock, HPS Investment Partners, CNBC, Private Credit, State, Better Markets, Securities and Exchange Commission, Apollo, Alliance, Virtus Private, AAA CLO Locations: U.S, CLOs
Neale Fraser: Australian tennis icon dies at 91
  + stars: | 2024-12-03 | by ( Jamie Barton | ) edition.cnn.com   time to read: +2 min
CNN —Neale Fraser, the icon of Australian tennis who was the last man to win singles, doubles and mixed doubles titles at a single grand slam, has died aged 91, Tennis Australia announced on Tuesday. In 1959, Fraser won the triple crown – singles, doubles and mixed doubles titles – at the US National Championships, a run which helped make him men’s singles world No. “I am deeply saddened to hear of the passing of my dear mate and fellow lefty, Neale Fraser,” Laver wrote on X, formerly known as Twitter. Tony Feder/Getty ImagesWhen he eventually did so in 1970, Fraser won a further four Davis Cup titles before retiring in 1993. “He was like a father to me,” said Cash, who won the Davis Cup under Fraser in 1983 and 1986.
Persons: CNN — Neale Fraser, Fraser, Australia’s, Rod Laver, , Neale Fraser, ” Laver, “ Neale, Thea, Neale’s, , Laver, Roy Emerson, Harry Hopman, Peter McNamara, Paul McNamee, John Fitzgerald, Pat Cash, Tony Feder, John Newcombe, Cash, ” Fraser, Philippe Chatrier Organizations: CNN, Tennis Australia, Wimbledon, US, Australia’s Davis, Davis, International Tennis Hall of Fame, Australian Tennis Hall of Fame Locations: Australia, Sweden
Trump unlikely to get full support to artificially weaken USD
  + stars: | 2024-12-03 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailStrategist: Trump is unlikely to get full institutional support to artificially weaken the USDBrendan McKenna of Wells Fargo Securities sees more FX volatility as Trump takes office next year. He also says the Chinese yuan has room to weaken further to maintain trade competitiveness as Trump's tariffs come into effect.
Persons: Trump, Brendan McKenna Organizations: Wells, Wells Fargo Securities, Trump Locations: Wells Fargo
The startup computing company aims to rival Nvidia with more affordable AI chips and processing. The nearly $700 million round attracted investors Samsung, Bezos Expeditions, and LG Electronics. In its latest funding round, Tenstorrent, a startup computing company that builds powerful AI hardware and software to compete with Nvidia, attracted big-name investors — including Jeff Bezos and Samsung. A company statement released Monday said its Series D funding round raised $693 million, valuing the AI chip startup at about $2.6 billion, per Bloomberg. Representatives for Tenstorrent, Samsung, and Bezos Expeditions did not immediately respond to requests for comment from Business Insider.
Persons: Jeff Bezos, Tenstorrent, Keith Witek, Ljubisa Bajic, Ivan Hamer, Milos Trajkovic, Jim Keller, Keller Organizations: Nvidia, Samsung, Bezos Expeditions, LG Electronics, Bloomberg, Samsung Securities, AFW Partners, Hyundai Motor Group, Apple, University of California, Tenstorrent, Business Locations: Seoul, Berkeley
One of Canada's large financial holding companies appears to be an attractive dividend investment opportunity, according to Scotiabank analysts. This development could boost Power Corporation's dividend growth rate, as Great-West represents its largest source of dividend income. "We think the value of the dividend growth is not reflected in the stock price and is underappreciated by the Street," the analysts added. Scotiabank's price target of 56 Canadian dollars ($40) is around 20% above the current stock price, with additional upside potential if dividend growth rates increase. The company recently agreed to sell its stake in Peak Achievement Athletics for around 440 million Canadian dollars, providing additional capital for potential shareholder returns.
Persons: Phil Hardie Organizations: Scotiabank, Power Corporation of Canada, Power Corp, IGM, Power Corporation, Desjardins Securities, Power Locations: U.S
AdvertisementThe Philippines said it spotted a Russian submarine in the waters of the South China Sea last week. The Philippines said it spotted a Russian submarine in the South China Sea last week, in the latest sign of tensions in the contested waters. This latest incident comes as tensions in the South China Sea have escalated this year, especially between China and the Philippines, an ally the US is treaty-bound to defend. AdvertisementThe presence of a Russian submarine in the contested waters may be a Russian signal to the US, one analyst said. AdvertisementRussia conducted joint military drills with China in the South China Sea in July and September.
Persons: Ferdinand Marcos Jr, Kilo, Roy Vincent Trinidad, Hunter Marston, Eduardo Araral, Araral, Philippines Sari Arho Havrén Organizations: Armed Forces, Russian UFA, Philippine Navy, Inquirer, West Philippine, Facebook, TASS, Russian, Malaysian, Agence France, Presse, Australian National University, China, National University of Singapore, Strait Times, Pacific, Royal United Services Locations: Philippines, Russian, South, Russia, China, Vladivostok, Russia's Far, Malaysia, South China, Asia, Pacific, Philippine, Indonesian, Taiwan Strait
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailOpportunity for more M&A activity among smaller Australian miners: AnalystHayden Bairstow of Argonaut discusses the consolidation of assets in Australia's mining space following Northern Star' $3.3 billion acquisition of De Grey Mining.
Persons: Hayden Organizations: Argonaut, Northern Star, De, Mining
See more mortgage rates on Zillow Real Estate on ZillowMortgage CalculatorUse our free mortgage calculator to see how today's mortgage rates will affect your monthly and long-term payments. 15-Year Mortgage RatesAverage 15-year mortgage rates have been hovering in the high 5% range, according to Zillow data. 5-Year Mortgage Rate TrendsHere's how 30-year and 15-year mortgage rates have trended over the last five years, according to Freddie Mac data. Mortgage rates are determined by a variety of different factors, including larger economic trends, Federal Reserve policy, your state's current mortgage rates, the type of loan you're getting, and your personal financial profile. Mortgage rates are still elevated, but over time they should ease as the Fed lowers rates.
Persons: we'll, Freddie Mac Organizations: Federal Reserve, Fed, Mortgage Research Center, Mortgage, Zillow, ARM, Federal Housing Administration, Department of Veterans Affairs Locations: Chevron
For roughly a decade after that first auction, he continued to broker deals the conventional way — for American sellers, Aussie-style auctions were a tough sell. Real-estate auctions are a time-honored tradition in Australia, dating back more than 200 years to its days as a British colony. But in times of healthy demand for homes, auctions can deliver benefits for sellers looking to ride out the frenzy. "I don't think the American consumer is ready for auctions yet," says Rob Hahn, the CEO of Decentre Labs, a company he started in 2022 to bring online real-estate auctions to the masses. The biggest beneficiaries, Duby tells me, may just be real-estate agents: When buyers and sellers are shuffled through this murky process, they'll look for a professional guide.
Persons: Evan Duby, Duby, Sellers, haven't, Kenneth Lusht, they've, Tim Quirk, Quirk, — Quirk, Mike Russo, , Rob Hahn, Hahn Organizations: nab, eBay, Pennsylvania State University, Auction.com, Decentre Labs Locations: Brooklyn, Australia, Melbourne, British, New South Wales, Victoria, Massachusetts, Bethesda , Maryland, American, States
WELLINGTON, New Zealand — Police in Australia seized a record 2.3 tons of cocaine and arrested 13 people in raids after the suspects’ boat broke down off the coast of Queensland, authorities said Monday. The smugglers made two attempts to transport the drugs to Australia by sea from a mothership floating hundreds of miles offshore, Jay said. Authorities have seized more than one ton of cocaine before, Jay said, but the weekend’s haul was the biggest ever recorded in Australia. Some were arrested on the boat, while others were waiting on shore to collect the cocaine, police said. “Australia is a very attractive market for organized criminal groups to send drugs such as cocaine,” Jay said.
Persons: , Stephen Jay, Jay, ” Jay Organizations: New Zealand — Police, Australian Federal Police, Authorities Locations: WELLINGTON, New Zealand, Australia, Queensland, Brisbane
CNN —Australian police seized the country’s largest haul of cocaine aboard a fishing boat that had broken down near the coast of Queensland, arresting 13 people alleged to be part of a drug-smuggling syndicate. Authorities tracked a recreational fishing boat as it traveled out to sea where it allegedly met a mothership in international waters to fetch the cocaine – some 2.34 metric tons with a street value of nearly half a billion dollars. Police seized their chance to board the boat, arresting two men at sea in a joint investigation between federal and local forces. Police found 2.34 metric tons of cocaine wrapped in bales with roped netting around them on a recreational fishing vessel. Among the haul was 225 metric tons of cocaine, 5 tons of which was found aboard a semi-submersible vessel plying a marine trafficking route from Colombia to Australia, according to the Colombian Navy.
Persons: Stephen Jay, Organizations: CNN, Australian, Authorities, Saturday . Police, Brisbane, Police, Australian Federal Police Police, Colombian Navy Locations: Queensland, Fraser, Australia, Colombian, Colombia
Bellroy, the Australian accessories brand, has some of the best wallets and bags we've tested, and now is the best time of year to shop. For Cyber Monday, the company's only sitewide sale of the year, offers 25% off everything over $75. We've tested the brand's products extensively and have featured several of its wallets in our guides for the best men's wallets and best slim wallets. Top 3 Bellroy Cyber Monday deals Snap up the highly coveted Apex Slim Sleeve for less than $100. Check out our roundup of all of the best Cyber Monday deals.
Persons: We've Organizations: Business, Insider's, Bellroy, lefties, Tokyo Tote, tote Locations: Tokyo
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailU.S. inflation will be higher and global growth lower under Trump, strategist saysRichard Kelly, head of global strategy at TD Securities, on the global implications of President-elect Donald Trump's policies and what that means for markets.
Persons: Richard Kelly, Donald Trump's Organizations: Trump, TD Securities
Learn moreThese limited-time Cyber Monday VPN deals mark the best time of year to sign up for one of the fantastic services. VPN subscription prices dramatically decrease the longer the term, and all of these Cyber Monday VPN deals are throwing in extra months for free. These VPN deals come with at least a 30-day money-back guarantee for added peace of mind. On top of that, it also throws in an additional four months free of charge. Check out our roundup of the best streaming services and Cyber Monday streaming deals if you're looking for something to watch.
Persons: we've, you'll, Pick, There's, Price, Stan Organizations: Business, Theft Insurance, PIA, Netflix, NFL, Max Locations: Australia
An increasing number of non-Indigenous Australians now find it difficult to celebrate Australia Day, in the knowledge that many of their Indigenous fellow citizens treat it as a day of mourning. “It’s not for us to tell anyone whether or how to celebrate Australia Day,” it said in a statement posted on social media. “It certainly wasn’t our intention to offend anyone.”“Whether you choose to celebrate Australia Day or not, everyone is welcome in our pubs, always. We have been, and are always, open over Australia Day and we continue to book events for patrons,” added Australian Venue, which says it has 15 million customers a year and employs 9,600 people. Multiple local councils have also dropped celebrations on the day as attitudes have changed about the anniversary.
Persons: Arthur Phillip, Jack, , “ It’s, Aldi Organizations: CNN, British Royal Navy, Crown, Australia, Co, Woolworths, Australian, Kmart Locations: Australian, Sydney
Many Americans already have whiplash after recent swings in mortgage rates: After the average 30-year fixed mortgage rate peaked at nearly 8% last fall, rates fell steadily ahead of the Federal Reserve’s first interest rate cut in September. That trend has since reversed, and mortgage rates have climbed back up to nearly 7% as investors bet that the Fed will cut rates fewer times than initially expected due to recent strong economic data. This helps enable a reliable flow of money to mortgage lenders, allowing them to offer more affordable rates to would-be homebuyers. During the housing meltdown of 2008, the two companies were brought under government control in an effort to stabilize the housing market. Some analysts advocate for full privatization, meaning the government would not provide assurances to backstop the two mortgage companies.
Persons: Donald Trump, Fannie Mae, Freddie Mac, , Fannie, Freddie, that’s, Ted Tozer, Ginnie Mae, Obama, ” Tozer, , Mark Zandi, Zandi, ” Zandi, ” Karoline Leavitt, Vance, President Trump, Trump, Freddie don’t, Andrew Harnik, Susan Wachter, Wachter, , Norbert Michel, Fannie Mae’s, Freddie Mac’s, ” Trump, Republican Sen, Rand Paul, Trump’s, Bill Ackman, Pershing, It’s, it’s Organizations: CNN, , Moody’s, Investors, Trump, Federal, stoke, Federal Housing Finance Agency, Federal National Mortgage Association, Wharton School, University of Pennsylvania, , CATO Institute, Republican, Pershing Square Holdings, U.S, Presidential Locations: Mexico, Canada, China, Washington , DC, conservatorship
With the end of the year fast approaching, consider a few alternative ways to help fuel Doctors Without Borders' work while maximizing your impact. Many alternative gift types offer tax advantages or other financial benefits, and they can serve as long-term investments in Doctors Without Borders' work. Take a moment to explore these financially savvy ways to make a gift — including using a donor-advised fund (DAF), donating stocks or mutual funds, and more. Below are a few strategic ways you can make a gift to Doctors Without Borders before December 31st:1. Appreciated securitiesWith strong stock market performance this year, you may have a limited-time opportunity to maximize your charitable impact with a gift of appreciated securities.
Organizations: DAF, DAFs, Insider Studios Locations: Gaza, Sudan, Haiti
AdvertisementUS President-elect Trump has threatened 100% tariffs on BRICS nations to protect the US dollar's dominance. BRICS nations are exploring alternatives to the US dollar amid de-dollarization talks. The US dollar gained on the political uncertainty, with the Dollar Index up 0.6% at 3:10 a.m. AdvertisementIn October, Russian President Vladimir Putin opened a summit of BRICS nations by calling for an alternative payment system. AdvertisementLast week, Trump threatened 25% tariffs on imports from top trading partners Canada and Mexico, and an additional 10% tariff on China.
Persons: Trump, dollarization, Donald Trump, Brad Setser, Setser, , Michael Pettis, Pettis, There's, isn't, Vladimir Putin, Putin, Justin Trudeau, Claudia Sheinbaum Organizations: United, US, Council, Foreign Relations, Treasury, Deutsche Bank, Trump, Deutsche, Carnegie Endowment, International, Russia, ING, greenback, . Canadian, Reuters, Canadian Locations: Brazil, Russia, India, China, South Africa, Egypt, Ethiopia, Iran, United Arab Emirates, Ukraine, Russian, Canada, Mexico, Florida
Faryar Shirzad, chief policy officer at Coinbase, told CNBC he sees crypto legislation making its way through Congress "fairly quickly" after the Republican president-elect — who ran on a notoriously pro-crypto policy platform — enters the White House. "I think the combination should finally allow the 50 million Americans who own crypto to have their interests and voice heard in policy." Shirzad told CNBC he's "optimistic" the legislation will get passed, but noted there's only a "small" chance the crypto legislation is considered in the so-called "lame duck" post-election period. Crypto's lobbying powerTrump's election win marked a major victory for the crypto industry — but it also highlighted the power of the crypto lobbying machine. Meanwhile, the Coinbase-backed Stand With Crypto Alliance developed a grading system to determine how for or against crypto House and Senate candidates were.
Persons: Shirzad, John Lamparski, Donald Trump, Faryar Shirzad, , doesn't, Gary Gensler, Trump, Gensler Organizations: Sheraton New York Times, Getty, Concordia Summit, CNBC, Republican, Republican Party, U.K, Innovation, Technology, Century, Crypto Alliance, U.S . Securities, Exchange, SEC Locations: New York City, United States, U.S
Twitter, now X, has also been a valuable data source for Musk's $50 billion startup xAI. When Elon Musk bought Twitter for $44 billion, it was panned as one of the worst tech acquisitions in history. AdvertisementIn late 2023, Musk blocked other organizations from scraping X data for free — but gave xAI continued access. AdvertisementxAI gets a boost from X data. Should X be unsuccessful, it would raise questions about the value of the X to xAI data pipeline.
Persons: Trump, Elon Musk, Dan Ives, it's, Musk, Sam Altman, xAI, Ellen Keenan O'Malley, EIP, O'Malley, X, Shmuel Chafets, Warren Buffett, Musk's, Donald Trump, Anna Moneymaker, Vivek Ramaswamy, Volodymyr Zelensky, Sundar Pichai, isn't, Howard Lutnick, Scott Bessent, MAGA, Calum Chace Organizations: Elon, Twitter, Wedbush Securities, Street, Qatar Investment Authority, Sequoia Capital, Wired, MMC Ventures, Trump, Queensland University of Technology, Republican, Target, Berkshire Hathaway, Fidelity, Getty, of, SpaceX, Reuters, UFC, Wall Street, Trump's, X Corp, Bright Locations: Pennsylvania, Lago, Palm Beach, California
—Katie Stockton with Will Tamplin Access research from Fairlead Strategies for free here . Fairlead Strategies Disclaimer: This communication has been prepared by Fairlead Strategies LLC ("Fairlead Strategies") for informational purposes only. Securities, investment products, other financial products or strategies discussed herein may not be suitable for all investors. The recipient of this information must make its own independent decisions regarding any securities, investment products or other financial products mentioned herein. This material is not to be reproduced or redistributed absent the written consent of Fairlead Strategies.
Persons: Mercedes, Katie Stockton Organizations: BMW, Volkswagen, STLAM, Ferrari NV, CNBC, NBC UNIVERSAL, Fairlead, CNBC Pro, Securities Locations: Europe, Stellantis,
In this photo illustration, a GQG Partners logo is seen on a smartphone. The Australia-listed investment firm is the fourth largest investor in flagship Adani Enterprises . Shares of major Adani Group investor GQG Partners fell as much as 15.74% on Monday after Swiss bank UBS downgraded the stock from a "buy" to "neutral" on Friday. GQG shares tumbled to a record intraday low of AU$1.96 on Nov. 21 after it was revealed that Adani Group Chair Gautam Adani had been charged with fraud in New York. GQG had made billions as the firm invested in Adani after the group's shares tumbled in January 2023 following a short-seller report by New York's Hindenburg Research.
Persons: Pavlo Gonchar, GQG, Gautam Adani, Rajiv Jain, Adani, , Bao Organizations: Getty, Adani Enterprises, UBS, Group, GQG Partners, CNBC, Adani, Hindenburg, Energy Locations: Swiss, GQG, Australia, Sydney, New York, Adani, New
"He was a terrific designer, but hopeless in business," says Malcolm, Ivan's younger brother. Years after Ivan's murder, Yeti continues to contract with Outback — and Gloria travels to Texas to periodically to meet with Yeti's management. To make the most of their dwindling inventory, Roy and Ryan bumped up the price on their coolers. "As tragic as Ivan's death was, all of a sudden we are a much stronger company," Roy explained on a hunting podcast. Yeti Coolers went public in October 2018, and Roy and Ryan earned hundreds of millions of dollars after selling most of their shares.
Persons: Stout, Roy, Ryan Seiders, Ryan, didn't, — Ivan Royal Brown, Ivan, Gloria, Roger —, , Roger, Jay McBride, Roy Seiders, Anuj Shrestha, Flip, Tek, Ivan Brown, Malcolm, Suzanne Handley, Clare, Ivan's, Suzanne, Tom Cat, hangouts, Malcolm isn't, Bryan Hammer, Hammer, Gloria's, GLORIA, BROWN, Malcolm's, Roy hustled, Serra, Malcolm Brown, Alvin Salas, Salas —, Pierre Bucsit, Romeo Amarillo, Prosecutors, Salas, it's, Ivan didn't, Nathaniel Colobong, Colobong, Terry Tate, they've, Brendan Borrell Organizations: Willys Jeep, Star, Five, Country, Texans, Flex, Texas, Waterloo, ESPN, Texas Tech, Rover, Workers, Foreigners, Philippines Securities, Exchange Commission, Cruiser, Honda, Northern Philippine Times, Ray's, Outback, BI Locations: America, Philippines, Austin , Texas, Roy, Australian, Texas, Driftwood, Austin, Australia, Thailand, Bangkok, Manilla, Angeles City, Queensland, Brisbane, Clark Freeport, City, American, Lodge, Philippine, Patagonia, Yeti's, Los Angeles
CNN —Police in Australia said a woman was forced to fend off a deadly tiger snake in her vehicle while driving 50 miles per hour on a freeway outside Melbourne. The woman told the officers that she had been traveling 80 kilometers per hour (50 miles per hour) when she felt something on her foot and looked down to find a tiger snake — one of the world’s most venomous serpents — slithering up her leg. Tim Nanninga of Melbourne Snake Control, who was called to the scene to capture and relocate the snake, said the woman in Melbourne was very fortunate. “It’s a miracle how she got off the road and safely parked the car,” he told CNN affiliate 9News. Experts say the recent tropical weather Melbourne has experienced is drawing snakes out of creeks and riverbeds, 9News reported.
Persons: Tim Nanninga, , , 9News, CNN’s Hilary Whiteman Organizations: CNN — Police, Melbourne . Police, Monash, Victoria Police, Melbourne Snake Control, CNN, 9News Locations: Australia, Melbourne, Snowy
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